H2Global Launches €2.5bn Auction for Green Hydrogen Imports into Europe
Key Ideas
- The H2Global auction, backed by Hintco and funded by the German Government, allocates €2.5bn to subsidize green hydrogen imports into Europe.
- The auction is segmented into regional and global lots, allowing flexibility in hydrogen form and transport methods while meeting EU's renewable fuels criteria.
- H2Global aims to support hydrogen projects by purchasing green hydrogen through long-term contracts for resale in the broader market, promoting price transparency and market liquidity.
- The initiative could see an increase in budget close to €3bn, showcasing a collaborative effort between Germany, the Netherlands, and the European Commission in advancing renewable hydrogen production.
The second H2Global auction has been launched with €2.5bn allocated to subsidize the import of green hydrogen into Europe. Organized by Hintco, a German Government-funded investment vehicle, the auction consists of regional and global lots, with a focus on flexibility in hydrogen form and transport methods. Suppliers are given the freedom to choose preferred transport methods to deliver the specified final product. The total budget of €2.5bn, jointly funded by Germany and the Netherlands, aims to support renewable hydrogen production in Europe and globally. H2Global's strategy involves purchasing green hydrogen through long-term contracts, promoting market liquidity and transparency while ensuring price discovery. The initiative, led by Hinto CEO Tim Bollerhey, sets new milestones by pooling funds to advance renewable hydrogen production. With a budget potentially reaching €3bn pending final approvals, the auction showcases a collaborative effort to boost the green hydrogen market and meet EU renewable fuels criteria.